Articles de revues sur le sujet « Crisi di liquidità »

A causa dell'esplosione del Covid-19 e del conseguente blocco, terribili problemi hanno colpito le aziende. Il governo italiano, come gli altri, si è adoperato per limitare i danni e scongiurare lo spettro di tanti fallimenti immediati. Quattro decreti legge (denominati Cura Italia, Liquidità, Rilancio, Semplificazione), adottati lungo una linea relativa all'andamento della situazione sanitaria, hanno introdotto misure con impatto diretto sulle aziende e sulle opzioni gestionali del amministratori. Gli obiettivi di questi quattro interventi differiscono: mentre il primo è una misura di contenimento dei danni, il secondo è sostenere la crisi di liquidità, il terzo per la riattivazione del sistema imprenditoriale e il quarto per favorire gli investimenti pubblici e la ripresa delle attività. l'economia. L'articolo illustra i principali interventi per aiutare le aziende colpite dal blocco.

La reintroduzione in Italia di un meccanismo di finanziamento pubblico dei partiti politici, la cui entità venisse collegata direttamente e in via almeno prevalente a una percentuale significativa degli utili generati dalle partecipazioni statali, potrebbe determinare da parte dei leader politici una maggiore propensione alla scelta di management capace e l'adozione di un efficace sistema di verifica delle procedure di gestione di questo patrimonio pubblico. Si potrebbe ridimensionare drasticamente per questa via la piaga apparentemente endemica e cronica del clientelismo dei colletti bianchi di alto livello e realizzare contestualmente una gestione della proprietà pubblica più efficiente, di tipo finalmente privatistico, se proprio vogliamo assegnare a questa categoria una valenza cogente. Le riforme di politica economica introdotte negli ultimi decenni dai governi dei paesi più industrializzati sono state fortemente condizionate dalla dottrina del New Public Management, un approccio radicale, capace di compromettere l'integrità strutturale ed etica del settore pubblico subordinando la giustizia sociale all'efficienza economica, una trasformazione caratterizzata dal taglio della spesa pubblica che ha travolto anche un fondamentale istituto del sistema democratico, i partiti politici. Purtroppo i trascorsi delle imprese pubbliche hanno fortemente agevolato quelle riforme, in quanto per un certo periodo storico queste hanno mostrato una tendenza cronica alla bassa produttività, rispetto alle imprese private, anche a causa delle politiche clientelari e dell'uso intensivo del fattore lavoro. Poiché elementi di servizio pubblico ed elementi di business convivono soprattutto nel settore delle public utilities, potenzialmente capace di generare reddito, le imprese pubbliche possono rappresentare un'utile e prudente forma di diversificazione dei ricavi per la finanza pubblica, in grado di ridurre sensibilmente i rischi di liquidità, ancor di più in un contesto storico di crisi finanziarie ed economiche internazionali ricorrenti. Il finanziamento pubblico dei partiti politici è stato introdotto nel 1974 con la L. 195/1974 per contrastare le collusioni con i grandi poteri economici, già sorte negli anni precedenti. È stato completamente abolito con D.L. 149/2013, convertito in L. 13/2014, lasciando spazio ad una crescente attività di lobbying e finanziamento indiretto ai partiti. La domanda a cui questo elaborato cerca di rispondere è: può l'azienda pubblica essere gestita in modo efficiente dallo Stato, produrre entrate e servizi per la comunità, senza dare luogo a risultati di gestione cronicamente negativi e contribuire a finanziare il diritto costituzionalmente garantito di organizzarsi in partiti politici, finanziando il loro meccanismo?

Nel periodo della piů grande crisi economica internazionale dall'epoca della Grande Depressione, l'articolo pone luce sul tema delle infiltrazioni malavitose all'interno dell'economia legale analizzando un campione di imprese della provincia di Pesaro e Urbino. La crisi economica potrebbe aumentare il rischio di infiltrazioni malavitose indebolendo il controllo sociale e la capacitŕ sia delle imprese sia delle istituzioni di respingere le infiltrazioni malavitose; esacerbando le difficoltŕ finanziarie delle imprese; generando "anomia" nella misura in cui le imprese tendono a trovare una sorta di giustificazione morale alla decisione di operare nel sommerso o di ricorrere a fonti illecite di finanziamento quali unici strumenti possibili per la sopravvivenza dell'impresa stessa.

The banking crisis reflects the liquidity crisis and bankruptcy of banks in the financial system. The financial crisis that occurred in mid-1997 resulted in a financial crisis that had a severe impact on the Indonesian economy. This made it aware of the importance of building a financial crisis early detection system to prepare for a crisis. The crisis occurs due to several macroeconomic indicators undergoing structural changes (regimes) and contain very high fluctuations. Combined volatility models and Markov regime switching are very suitable for explaining crises. The M2/international reserves indicator from 1990 to 2018 was used to build a crisis model. The results showed that the Markov regime switching autoregressive conditional heteroscedasticity model MRS-ARCH(2,1) could explain the crisis that occurred in mid-1997. Based on this model, in the future the crisis might occur if the M2/international reserves indicator decreased minimum of 13%

Liquidity is the fulfillment of bank liabilities that must be considered in the Islamic banking operations and errors in the management of liquidity can cause loss of Islamic banking which have an impact on the decline for the profit sharing to deposits customers and shareholders of Islamic banking. This study was to investigate the influence of external factors (Economic Performance (EK), inflation (INF), the Global Financial Crisis (D07)) and internal (Non Performing Financing (NPF) and Rate of Return (Deposit)of banks to liquidity (FDR) of Sharia Banking in Indonesia.Data were collected on a monthly basis from January 2003 - October 2015 times series data are tested by unit root and cointegration using Eviews 6.1. to determine the relationship between the variables in the long run.Based on the results of cointegration tests indicate that in long term relationships, NPF and EK variables have a significant and negative influence on the FDR, RRD variables have significant and positive influence on the FDR while variable INF and D07 does not have a significant influence on the FDR. It can be concluded that the Islamic banking must pay attention to the increase in marketing of Islamic banking products to increase liquidity despite good economic conditions and lower financing problems to increase the liquidity of Islamic banking.

Liquidity is the fulfillment of bank liabilities that must be considered in the Islamic banking operations and errors in the management of liquidity can cause loss of Islamic banking which have an impact on the decline for the profit sharing to deposits customers and shareholders of Islamic banking. This study was to investigate the influence of external factors (Economic Performance (EK), inflation (INF), the Global Financial Crisis (D07)) and internal (Non Performing Financing (NPF) and Rate of Return (Deposit)of banks to liquidity (FDR) of Sharia Banking in Indonesia.Data were collected on a monthly basis from January 2003 - October 2015 times series data are tested by unit root and cointegration using Eviews 6.1. to determine the relationship between the variables in the long run.Based on the results of cointegration tests indicate that in long term relationships, NPF and EK variables have a significant and negative influence on the FDR, RRD variables have significant and positive influence on the FDR while variable INF and D07 does not have a significant influence on the FDR. It can be concluded that the Islamic banking must pay attention to the increase in marketing of Islamic banking products to increase liquidity despite good economic conditions and lower financing problems to increase the liquidity of Islamic banking.

Banking institutions are one pillars of the country's economy. His role as a regulator of financial traffic is the cause. Therefore, banks cannot fail, especially bankruptcy. The impact is triggering inflation and deflation that disrupt the economic system and crisis. A bitter experience occurred in 1998. The state suffered losses and triggered a social crisis. Since then, Indonesia has continued to maintain banking institutions to remain healthy and stable. This study aims to present information on banking performance, so it can be useful for parties. Proof efforts use a quantitative approach. Research data sourced from OJK. The results showed that the bank's performance was relatively good. But the last ten years showed a downward trend. The bank is able to maintain capital adequacy, good management of credit burden and risk, so as to increase interest income. But this has not been able to optimize profit and liquidity

Abstract2008 crisis was hypothetically to be an impact of particular condition in which banking around the countries had the high degree of leverage and decrease the bank capital quality. The other influencing factors are the quality of corporate governance and the quality of risk management. Having seen these challenges, Basel Committee on Banking Supervision (BCBS) published a document of “Basel III: Global Regulatory Framework for More Resilient Banks and Banking Systems” on Desember 2010 as the new initiation.The scopes of Basel III are, (1) Empowering the Global Capital Framework, (2) Recognizing the Global Liquidity. This research works on providing an implementation prospect of global liquidity standard to Indonesian Syariah Banking.The results show that the average of syariah banking LCR has only reached 51,6% that means there must be certain improvement to minimally reach 60% before January 2015 2015. Furthermore, the yearly growth of LCR which stands on 3,22% in average is claimed to be far from the yearly targeted increase whisch is 10%, Thus, this current study suggest syariah banking to put an effort by uplifting the HQLA using the funding strategy to absorb more deposits. Keywords: Basel III, Liquidity Coverage Ratio, Syariah banking

Questo articolo analizza l'evoluzione della coppia nel XX secolo, partendo dall'osservazione che l'amore č cambiato, in quanto č diventato il luogo della radicalizzazione dell'individualismo, dove uomini e donne cercano nel "tu" il proprio "io". L'individualismo č un elemento fondante della "modernitŕ liquida", effetto di una serie di cambiamenti (economici, politici, sociali, esistenziali e culturali) che stanno attraversando le societŕ dall'inizio del secolo. Anche i rapporti di coppia diventano liquidi, ovvero fragili e vacui, devono essere facilmente allentabili non appena si avverte la necessitŕ di cambiare. L'effetto č da un lato la riduzione drastica dei matrimoni, dall'altro l'emergere di nuove forme di convivenze (LAT, childfree/childless coppie, coppie omosessuali, ecc.) attraverso le quali l'individuo puň scegliere liberamente come realizzarsi. Il nostro lavoro ipotizza che le nuove forme di coppie siano un segno visibile di un grande cambiamento storico e di una crisi culturale ma al tempo stesso una risposta adattativa e funzionale per combattere il senso di impotenza ed incertezza. Seguendo questo punto di vista, gli psicoterapeuti dovrebbero valutare la richiesta d'aiuto da parte della coppia (o individuo) come una crisi in una societŕ in crisi. L'obiettivo terapeutico dovrebbe essere quello di disilludere dell'esistenza di una soluzione sicura e perenne, e aiutare i partner da una parte a pensare la coppia come un'unione imperfetta dove l'altro sarŕ sempre diverso da come uno se lo aspetta, dall'altra ad accettare il cambiamento dell'altro e il proprio e infine portare i singoli partner a conoscere ciň che porta la crisi e come di volta in volta cercare di fronteggiarla.

The development of banking industry in Indonesia could bring impact on the economic growth, especially in the face of the financial crisis. This study aims to examine scientifically the efficiency score of regional development banks. Furthermore, it also aims to understand further what factors influence the efficiency performance of regional development banks in Indonesia using the SFA (Stochastic Frontier Analysis) approach. The data used is from 25 Regional Development Banks (BPD) in Indonesia with the financial reporting period of 2011 to 2017. The results obtained are the level of efficiency of BPD in Indonesia does not reach 100%. The highest level of efficiency was at 97.80% in 2016. Then, the variable that affects bank efficiency is liquidity as measured by LDR, and credit risk as measured by NPL. Meanwhile, the variables of bank capital and profitability as well as the size of the bank and board of commissioners do not affect the efficiency of banks, especially Regional Development Banks in Indonesia in the period of 2011-2017.

Capital aspect is the one very important aspect in the banking sector,not only for business developing but also to overcome the various of risk. Inorder to keep the healty and stability of the state owned bank capital, the centralbank as monetary authority in Indonesia has determine the regulation aboutcapital healty. It looks from the minimum capital requirement that must beenobeyed by banking is 8%. This situation based on economy crisis case in 1997which has an impact on the banking sector. This study aims to analyze the effectof profitability, credit risk, efficiency, liquidity, exchange rate and inflation oncapital ratios of state owned bank in Indonesia. The type of this research aredescriptive and associative using time series data from the first quarter of 2004until the fourth quarter of 2015 with documentation data collected technique.Data were analyzed with multiple linear regression model, the prerequisite test(multicolinearity, autocorrelation and heteroscedasticity), t test, and F test. The result shows that (1) Profitability has positive and significant effect oncapital ratios of state owned bank in Indonesia. (2) Credit risk has positive andsignificant effect on capital ratios of state owned bank in Indonesia. (3)Efficiency has negative and significant effect on capital ratios of state ownedbank in Indonesia. (4) Liquidity has negative and significant effect on capitalratios of state owned bank in Indonesia. (5) Exchange rate has positive andsignificant effect on capital ratios of state owned bank in Indonesia. (6) Inflationhas positive and not significant effect on capital ratios of state owned bank inIndonesia.

The fourth quarter in 2008 is the peak of Global Monetary Crisis, which is the decreasing of liquidity in companies around the world. The crisis also affected towards fluctuation of world petroleum price. Automotive industry in Indonesia was also affected towards cost of foreign exchange fluctuation and petroleum price due to the crisis. PT Astra International, Tbk. is assumed to represent automotive industry in Indonesia. The research is done through literature research and financial and sales report analysis in 2000-2008. The performance reduction is directly connected by the decreasing of earnings, especially in motor vehicle and parts sale in those years and also the increasing of cost of production, due to the increasing of import fee and transportation cost. Foreign exchange fluctuation and petroleum price directly affects the work performance of PT Astra Internasional.

Syariah banking as one of increasing financial institution is hoped to be one ofthe alternative solution to overcome the economic crisis in Indonesia. It is dueto the fact of the bank’s capability to survive during the crisis where most ofthe conventional banks experienced bankruptcy which was caused by the highrate of interest resulting in the liquidity weaken. The positive impact of thesyariah banking existence is the effective of the intermediary function of abank,that is financing allocation at real sektor resulting in 100 % of Loan toDeposite Ratio (LDR) amount. This has a direct influence in developing thecommunity’s economy and in reducing the unemployment number.Theoritically, the high amount of LDR has a positive correlation to credit riska research on the debtor behavior and faktor influencing them in determiningthe syariah financing is conducted so that the default risk can be minimize.Key word: debitor behavior, syariah banking

The financial crisis in Asia that hit Indonesia in 1997-1998 caused research related to the predictions of financial difficulties mostly done. This study aims to examine whether financial ratios (which include liquidity ratios, activity, leverage, profitability, and markets) and corporate ownership structures (institutional ownership and managerial ownership) can be used in predicting possible financial difficulties. The statistic used in this research hypothesis test is logistic regression test. Companies that include the population are nonfinancial corporations that have financial difficulties and companies that have a healthy financial condition in the period 2010. Sample size used in this study amounted to 105 companies: 51 companies experiencing financial difficulties and 54 healthy companies. This study uses three years of observation period of research, ie year 2007-2009, to see whether the variables can predict financial difficulties that occurred in 2010. The results showed that the ratio of liquidity, activity, leverage, and profitability ratio can predict the possibility of financial difficulties.

Recovery process from crisis 1997 in all over ASEAN country had show a progress in 1999, where the economic condition is become batter than before. The report from World Economic Forum 2002 about economic growth in 80 countrys including ASEAN country have progress in their economic growth in 2001 and 2002 except Philippines and Indonesia. Report from World Investment report 2003 in their fact sheet, show that in all ASEAN countrys including Philippines have increase in transaction volume in their capital market, except Indonesia capital market.The fact that change in economic condition and recovery process from crisis doesn’t effect much to investor to invest their capital in philippines public company make some question, “is the public company in philippines have financial performance more batter than indonesia public company that also had decline in their economic condition?”. This research try ti find out the answer by compare financial performance (proxy by ratio) between public compani in philippines and indonesia. financial ratio use in this research is representation from liquidity ratio, solvency ratio, profitability ratio, and all that ratio compare by Independent Sample T-test in each observation time (2001 and 2002). The result from the test shows almost all ratio use (except ROA) indicate that financial performance in philippines public company is more batter then indonesia public company.

Recovery process from crisis 1997 in all over ASEAN country had show a progress in 1999, where the economic condition is become batter than before. The report from World Economic Forum 2002 about economic growth in 80 countrys including ASEAN country have progress in their economic growth in 2001 and 2002 except Philippines and Indonesia. Report from World Investment report 2003 in their fact sheet, show that in all ASEAN countrys including Philippines have increase in transaction volume in their capital market, except Indonesia capital market. The fact that change in economic condition and recovery process from crisis doesn’t effect much to investor to invest their capital in philippines public company make some question, “is the public company in philippines have financial performance more batter than indonesia public company that also had decline in their economic condition?”. This research try ti find out the answer by compare financial performance (proxy by ratio) between public compani in philippines and indonesia. financial ratio use in this research is representation from liquidity ratio, solvency ratio, profitability ratio, and all that ratio compare by Independent Sample T-test in each observation time (2001 and 2002). The result from the test shows almost all ratio use (except ROA) indicate that financial performance in philippines public company is more batter then indonesia public company.

By applying the principles of good corporate governance and risk management, Islamic banks have won the trust of the public by significantly increasing the number of Islamic bank customers, although not as much as conventional bank customers. To build public trust in Islamic banks, in addition to GCG, there is also a need for good management and risk management of Islamic banks. It is hoped that Islamic banks will be able to play an active role in banking activities in Indonesia as an indicator of whether or not the economic conditions in Indonesia. The role of corporate governance has been far applied in the teachings of Islam. The principles of Good Corporate Governance which consist of transparency, accountability, responsibility, professional and fairness are contained in sharia values ​​which intensely consist of: (1) shiddiq (honesty), (2) trust (fulfillment of trust), (3) fathanah (intelligence), (4) tabligh (transparency, openness). The important thing that needs to be done by Islamic banks is to build an effective risk management culture, so that banks have competitiveness and survive in economic conditions that are full of uncertainty or even crisis. The types of risks faced by Islamic banks include the following: 1) Financing Risk, 2) Liquidity Risk, 3) Interest Rate Risk, and 4) Operational Risk.

The capital market is one of the alternative sources of long-term funding for companies. These include companies in the banking sector. The Banking Industry plays an important role in economic development as a Financial Intermediary or intermediary for over-funding parties with parties in need of funds. One element that is very noticed by the bank is the performance of the bank, in other words, the problem of its health level. The level of health of a bank can be assessed in terms of its finances. A bank can be said to be healthy if it can meet the provisions stipulated by the regulations issued by the Central Bank. In conducting this research, the object that the author of the analysis is the banks listed on the Indonesia Stock Exchange as many as 10 banks, ten banks registered by the author took 4 state-owned banks yatu Bank Mandiri, Bank BNI 1946, Bank BRI, Bank BTPN while private banks include Bank BCA, Bank CIMB Niaga, Bank OCBC NISP, Bank Maybank, Bank Danamon and Bank Permata where the data used is secondary data for the period 2014-2019 obtained from the Indonesia Stock Exchange , which relates to this research. Based on calculations and analysis using car, LDR and ROA ratios that have been done by the author, it can be concluded that the banks taken as samples can be said to be healthy banks. Although the ten banks are classified as healthy banks, the banking sector has great potential and opportunities in its role as a source of financing for the community and business sector. Since the number of banks liquidated during the monetary crisis, Bank Indonesia has been more eager to restructure the banking sector, which is expected to create a strong, effective, efficient, and sound banking structure. The health of a bank can be assessed through qualitative approach to management factors and quantitative approach to capital factors, asset quality, management, rentability, and liquidity. This study aims to analyze the influence of capital and liquidity capabilities on profits in the National Banking System. The financial ratio analysis used consists of CAR, which represents capital capability, LDR representing liquidity and ROA representing profit. From the results of the study, CAR and LDR variables simultaneously affect roa variables, this is indicated by the P-value test calculation value of 0.017 is less than 5%, meaning there is a positive and significant influence between the two free variables (CAR and LDR) on bound variables (ROA)

ABSTRAK Tujuan penelitian ini dilakukan adalah untuk mengidentifikasi dan menganalisis determinan risiko likuiditas pada bank syariah dan konvensional yang beroperasi di Indonesia sebelum dan selama pandemi COVID-19. Penelitian ini adalah penelitian kuantitatif dengan menggunakan data panel untuk mengkaji hubungan antara risiko likuiditas dengan faktor spesifik bank dan faktor makroekonomi sebelum dan selama pandemi COVID-19 (2018-2021). Dengan mengambil sampel dari 10 bank syariah dan 20 bank konvensional yang ada di Indonesia, penelitian ini menemukan bahwa faktor spesifik bank yaitu Capital Adequacy ratio (CAR), Return on Equity (ROE), dan Non Performing Loan (NPL) atau risiko kredit memiliki pengaruh pada likuiditas bank syariah. Sementara CAR dan NPL tidak memberikan pengaruh pada likuiditas bank konvensional hanya ROE yang memiliki pengaruh pada risiko likuiditas bank konvensional. Adapun faktor makro ekonomi (pertumbuhan GDP dan inflasi) tidak mempengaruhi risiko likuiditas kedua bank. Kemudian variabel pandemic tidak memberikan pengaruh pada risiko likuiditas kedua jenis bank. Penelitian ini diharapkan dapat mempermudah para bankir dalam mengambil keputusan untuk meningkatkan kualitas pengelolaan likuiditas pada kedua sistem perbankan tersebut, terutama dimasa pandemi covid-19, agar tidak terjadi kebangkrutan. Kata Kunci: Risiko Likuiditas, Bank Syariah, Bank Konvensional, Covid-19. ABSTRACT This study aims to identify and analyze the determinants of liquidity risk in Islamic and conventional banking in Indonesia before and during the COVID-19 pandemic. This study uses a panel data approach to examine the relationship between liquidity risk with bank-specific and macroeconomic factors before and during the COVID-19 pandemic (2018-2021). By taking samples from 10 Islamic banks and 20 conventional banks operating in Indonesia, this study found that bank-specific factors consist of Capital Adequacy ratio (CAR), Return on Equity (ROE), and Non-Performing loans (NPL) or credit risk affect the liquidity of Syariah banking. While CAR and NPL have no significant effect on conventional bank liquidity, other bank-specific factors, namely ROE, have a considerable effect on the liquidity risk of conventional banking. Meanwhile, macroeconomic factors (GDP growth and inflation) did not affect the liquidity risk of the two banks. Meanwhile, the dummy variable shows no significant effect on liquidity risk in Islamic and conventional banks related to pandemic conditions. Thus, this research is expected to facilitate bankers in making decisions to improve the quality of liquidity management in the two banking systems. Keywords: Liquidity Risk, Islamic Banks, Conventional Banks, Covid-19. DAFTAR PUSTAKA Abdel Megeid, N. S. (2017). Liquidity risk management: conventional versus Islamic banking system in Egypt. Journal of Islamic Accounting and Business Research, 8(1), 100–128. https://doi.org/10.1108/JIABR-05-2014-0018 Abdul-Rahman, A., Sulaiman, A. A., & Said, N. L. H. M. (2018). Does financing structure affects bank liquidity risk? Pacific-Basin Finance Journal, 52(9), 26-29. https://doi.org/10.1016/j.pacfin.2017.04.004 Adawiyah, N. N., & Azifah, N. (2020). Faktor-faktor yang mempengaruhi likuiditas pada bank umum syariah di Indonesia. Jurnal Ilmiah Ekonomi Bisnis, 25(3), 238–248. https://doi.org/10.35760/eb.2020.v25i3.2663 Almira, N. P. A. K., & Wiagustini, N. L. P. (2020). Return on asset, return on equity, dan earning per share berpengaruh terhadap return saham. E-Jurnal Manajemen Universitas Udayana, 9(3), 1069. https://doi.org/10.24843/ejmunud.2020.v09.i03.p13 Arif, A., & Nauman Anees, A. (2012). Liquidity risk and performance of banking system. Journal of Financial Regulation and Compliance, 20(2), 182–195. https://doi.org/10.1108/13581981211218342 Berger, A.N. and Bouwman, C. H. (2009). Bank liquidity creation. Review of Financial Studies, 22(9), 3779–3837. https://doi.org/10.1093/rfs/hhn104 BPS. (n.d.). Pengertian pendapatan nasional. Retrieved from https://www.bps.go.id/subject/11/produk-domestik-bruto--lapangan-usaha-.html Cahyono, E. F., Rani, L. N., & Mardianto, M. F. F. (2021). Determinants of Indonesian conventional and Islamic bank depositor trust during the covid-19 pandemic. Journal of Islamic Monetary Economics and Finance, 7(1), 1–32. https://doi.org/10.21098/jimf.v7i1.1352 CNBC Indonesia. (2020). LPS: Perbankan hadapi risiko likuiditas ketat & NPL meningkat. Retrieved from https://www.cnbcindonesia.com/news/20200623142740-4-167394/lps-perbankan-hadapi-risiko-likuiditas-ketat-npl-meningkat Dendawijaya, L. (2003). Manajemen perbankan. Bogor: Ghalia Indah. Dinger, V. (2009). Do foreign-owned banks affect banking system liquidity risk? Journal of Comparative Economics, 37(4), 647-657. https://doi.org/10.1016/j.jce.2009.04.003 Fauziana, L., Mulyaningsih, A., Anggraeni, E., M, S. C. Y., & Rofida, U. (2014). Keterkaitan investasi modal terhadap GDP Indonesia. Economics Development Analysis Journal, 3(2), 372–380. https://doi.org/10.15294/edaj.v3i2.3845 Gautam, R. (2016). The Determinants of banks liquidity: Empirical evidence on Nepalese commercial banks. Journal of Interdisciplinary Studies, 2(2), 69–78. Ghenimi, A., Chaibi, H., & Omri, M. A. B. (2021a). Liquidity risk determinants: Islamic vs conventional banks. International Journal of Law and Management, 63(1), 65–95. https://doi.org/10.1108/IJLMA-03-2018-0060 Hanifah, R. U., Ariefiantoro, T., & Suryawardana, E. (2021). Analisis pengaruh non-performing loan (npl), return on asset (roa), return on equity (roe) terhadap risiko likuiditas perbankan. Solusi: Jurnal Ilmiah Bidang Ilmu Ekonomi 19 (3), 234–244. http://dx.doi.org/10.26623/slsi.v19i3.4112 Hidayat, S. E., Farooq, M. O., Nasution, A., & Sari, C. A. (2020). Covid-19 And its impacts on the Islamic financial industry in the OIC countries. In Impacts of COVID-19 Outbreak on Islamic Finance in the OIC Countries (I, pp. 1–11). Jakarta: KNEKS. Ichwan, M. C., & Ryandono, M. N. H. (2016). Faktor-faktor yang berpengaruh terhadap likuiditas bank syariah. Jurnal Ekonomi Syariah Teori dan Terapan, 3(2), 144–157. https://doi.org/10.20473/vol3iss20162pp144-157 Iqbal, A. (2012). Liquidity risk management: A comparative study between conventional and Islamic Banks of Pakistan. Global Journals, 12(5), 55-64. Izadkhasti, H. (2020). The severity & magnitude of the impact of the coronavirus crisis on the Islamic financial industry in Iran. In Impacts of COVID-19 Outbreak on Islamic Finance in the OIC Countries (pp. 53–59). Jakarta: KNEKS. Kamila, N. (2018). Pengaruh kinerja keuangan dan variabel ekonomi makro terhadap likuiditas perbankan (Studi pada industri perbankan di Indonesia tahun 2010-2016). Jurnal Ilmiah Mahasiswa Fakultas Ekonomi dan Bisnis, Ilmu Ekonomi, 1-17. liputan6.com. (2021). Ngeri, krisis ekonomi akibat pandemi covid-19 disebut terburuk dalam sejarah. Retrieved from https://www.liputan6.com/bisnis/read/4647601/ngeri-krisis-ekonomi-akibat-pandemi-covid-19-disebut-terburuk-dalam-sejarah Mariss, E. (2017). Pengaruh return on asset (roa), bopo, financing to deposit ratio (fdr), capital adequacy ratio (car) dan non performing financing (npf) terhadap tingkat bagi hasil deposito mudharabah pada bank umum syariah di Indonesia (Periode 2012-2015). Skripsi tidak dipublikasikan. Jakarta: Sekolah Tinggi Ilmu Ekonomi Indonesia Banking School Meera, A. K. M., & Wirdayanti, Y. N. (2020). The economic costs of the COVID-19 outbreak for Malaysia: A preliminary crude estimate and suggestion for solutions. In Impacts of COVID-19 Outbreak on Islamic Finance in the OIC Countries (pp. 61–69). Jakarta: KNEKS. Muhammad, A. D., & Ismail, A. A. (2020). Impacts of covid-19 on the Islamic finance industry in Nigeria. In Impacts of COVID-19 Outbreak on Islamic Finance in the OIC Countries (pp. 71–79). Jakarta: KNEKS. Muharam, H., & Penta Kurnia, H. (n.d.). Liquidity risk on banking industry: Comparative study between Islamic bank and conventional bank in Indonesia. Al-Iqtishad: Journal of Islamic Economics, 5(2), 207-218. https://doi.org/10.15408/aiq.v5i2.2565 Overby, J., Rayburn, M., & Hammond, K. (2013). Impact, definition of. Encyclopedia of Crisis Management, 16(1), 69–94. https://doi.org/10.4135/9781452275956.n167 Prihatiningsih. (2016). Pengaruh DPK, capital adequecy ratio (CAR), imbal hasil sertifikat bank indonesia syariah (SBIS), imbal hasil sertifikat investasi mudharabah antar bank syariah (SIMA), dan non performing financing (NPF) terhadap financing to deposit ratio (FDR) (studi pada bank umum syariah tahun 2006-2010. Skripsi tidak dipublikasikan. Semarang: Universitas Diponegoro Rahman, M. A., Kusuma, A. Z., & Afryanto, H. (2020). Situasi ketengakerjaan di lapangan usaha yang tedampak covid-19. Catatan Isu Semeru, 1-4. Reyna, T. (2007). Panel data analysis fixed and random effects using stata (v. 4.2). Data & Statistical Services. Massachusetts: Princeton University. Santoso dkk. (2013). Faktor-faktor yang mempengaruhi likuiditas perbankan syariah di Indonesia. Jurnal Ekonomi Universitas Sebelas Maret, 221–231. Shaikh, S. A. (2020). Coping with COVID-19 in Pakistan. In Impacts of COVID-19 Outbreak on Islamic Finance in the OIC Countries (pp. 89–101). Jakarta: KNEKS. Sudarsono, H. (2009). Dampak krisis keuangan global terhadap perbankan di indonesia: Perbandingan antara bank konvensional dan bank syariah. La_riba: Jurnal Ekonomi Islam, 3(1), 12-23 https://doi.org/10.20885/lariba.vol3.iss1.art2 Sukmana;, R., Indrawan;, I. W., & Ajija, S. R. (2020). The impact of covid-19 outbreaks on the Islamic financial industry: Indonesia. In Impacts of COVID-19 Outbreak on Islamic Finance in the OIC Countries (pp. 43–51). Jakarta: KNEKS. Suparmin, A. (2019). Manajemen resiko dalam perspektif Islam. El-Arbah: Jurnal Ekonomi, Bisnis Dan Perbankan Syariah, 2(02), 27–47. https://doi.org/10.34005/elarbah.v2i02.551 Utami, M. S. M., & Muslikhati. (2019). Pengaruh dana pihak ketiga (DPK), capital adequacy ratio (CAR), non-performing financing (NPF) terhadap likuiditas bank umum syariah (BUS) periode 2015-2017. FALAH Jurnal Ekonomi Syariah, 4(1), 33–43. https://doi.org/https://doi.org/10.22219/jes.v4i1.8495 Waemustafa, W., & Sukri, S. (2016). Systematic and unsystematic risk determinants of liquidity risk between Islamic and conventional banks. International Journal of Economics and Financial Issues, 6(4), 1321–1327. https://doi.org/10.6084/m9.figshare.4052316 WHO. (n.d.). Pertanyaan dan jawaban terkait Coronavirus. Retrieved from https://www.who.int/indonesia/news/novel-coronavirus/qa/qa-for-public

The research is a Case Study of Troubled Financing Handling at BMT Hubbul Wathon in the Covid-19 Pandemic. The research method uses a descriptive qualitative approach. In collecting data, researchers used interview techniques with BMT about policies to deal with the economic crisis during the Covid-19 Pandemic. BMT Hubbul Wathon Sumowono is one of the non-bank syari'ah financial institutions that issues a lot of financing products, such as Mudharabah, Musyarakah, Murabahah, and Ijarah financing. In providing financing to customers, an agreement is made in the BMT institution, in which there are several provisions that must be agreed upon by both parties. During the Covid-19 Pandemic, BMT Hubbul Wathon experienced a decrease in both savings, financing and installments. In the Covid-19 Pandemic as well, problematic financing at BMT Hubbul Wathon Sumowono increased by 5% when compared to the financing provided before the Covid-19 Pandemic. Therefore, this non-bank syari'ah financial institution issued several measures or policies including maintaining liquidity, restrictions in providing financing, and also by adding new customer members.

Over the last 25 years, Brazil has been among the countries with the highest interest rates globally. High interest rates have been necessary during several recent times, such as in the period from 1997 to 1999, due to the repeated international financial crises that have plagued the country. From 1999, a sustained path of interest rate reduction begun. With the outbreak of the 2008 international financial crisis, the Brazilian monetary authorities promoted a new round of falling domestic interest rates in response to the recessive effects and the threat of a systemic crisis that could hang over the national financial system. In 2012, a set of interventionist nature policies led to a decrease in the Selic rate. Thus, looking at the last 25 years, it appears that many factors have started to influence the trajectory of Brazilian interest rates. In this context, the present work aims to identify, based on empirical research, the determinants of spot and future interest rates. As a methodology, the research uses a multivariate econometric vector autoregressive model (VAR) with error correction (VEC). The analysis covers the years 2017 to 2019, corresponding to the period in the aftermath of the global financial crisis of 2008. The results evidence that both the spot rate and the DI future can be determined by the fluctuations in the level of inflation and by the level of activity and the real exchange rate, in addition to the effects of the lagged variables themselves.

The objective of this research is to evaluate the performance between Indonesia and Thailand public banks before crisis year 1997, with research period 1994-1996. CAMEL is used as proxy the banking performance, which consists of: CAR as represent of Capital, RORA as represent of Assets quality, NPM as represent of Management, ROA and BOPO as represent of Earnings, CML and KDN as represent of Liquidity. SKOR is calculated from weighted average of all aspects as represent of CAMEL entirely.Based on sampling criteria, all of the public banking population consists of 22 banks in Indonesia and 16 banks in Thailand comply with a request, so the sample are 38 banks. Financial data are drawn from Published Bank Financial Statements on PACAP database. Kolmogorov-Smimov Test is used to test the normality of data distribution. For normally distributed data consists of BOPO, CML, and KDN, test are conducted using t-Test as parametric test. Meanwhile, CAR, RORA, NPM, ROA, and SKOR which non normally distributed, test are conducted using Mann-Whitney Test, as a non parametric test to compare the difference between two countries banking performance.The result indicate that on average the public banking performance in Indonesia is better than that in Thailand. CAR, RORA, ROA, CML, and KDN are statistically significant difference from two countries. Meanwhile, the test toward the NPM, and BOPO are not statistically significant difference, although the mean of both ratios relatively Indonesia are better. The test toward the SKOR as represent of CAMEL indicates there is statistically significant difference of banking performance in Indonesia and Thailand. From the research can be summed that there is significant difference of banking performance in Indonesia and Thailand, and entirely the Indonesian banking performance is better than that in Thailand. Keywords: Assets Quality, CAMEL, Earnings, Banking Performance

The negative impact of economic crisis in Asia to internal financial decision included investment decision, financing decision, and dividend decisions. This condition is loser if external factors such as inflation rate, interest rate, and exchange rate are not supported. Negative free cash flow including Economic Value Added and Market Value Added, depreciation of stock return indicate financial distress and reduction of shareholder wealth.The research used of Confirmatory Factor Analysis and the hypotheses are: 1. The influence of Inflation Rate (IR), Interest Rate, and Exchange Rate are significant to External Factor.2. The influence of Return on Equity (ROE), Fixed Asset Utilization (FAU), Capital Intensiveness (CI), Inventory Intensiveness (II), Receivable Intensiveness (RI), Margin Ratio (MR), Asset Profitability Ratio (APR) are significant to Investment Decision.3. The influence of Financial Leverage (FL), Short Term Liquidity (STL) and Cash Position (CP) are significant to Financing Decision.4. The influence of Plowback Ratio (PR) and Return On Fixed Asset are significant to Dividend Decision.5. The influence of Economic Value Added (EVA) and Market Value Added (MVA) are significant to Free cash flow.6. The influence of Price Earning Ratio (PER), Dividend Yield (DY), and Capital Gain Yield (Cap.G) are significant to Stock Return.The results of this research are significant influence to external factors, internal financial decision, free cash flow, and stock return; but inventory and receivable intensiveness, dividend yield are not significantly.

The negative impact of economic crisis in Asia to internal financial decision included investment decision, financing decision, and dividend decisions. This condition is loser if external factors such as inflation rate, interest rate, and exchange rate are not supported. Negative free cash flow including Economic Value Added and Market Value Added, depreciation of stock return indicate financial distress and reduction of shareholder wealth.The research used of Confirmatory Factor Analysis and the hypotheses are: The influence of Inflation Rate (IR), Interest Rate, and Exchange Rate are significant to External Factor.The influence of Return on Equity (ROE), Fixed Asset Utilization (FAU), Capital Intensiveness (CI), Inventory Intensiveness (II), Receivable Intensiveness (RI), Margin Ratio (MR), Asset Profitability Ratio (APR) are significant to Investment Decision.The influence of Financial Leverage (FL), Short Term Liquidity (STL) and Cash Position (CP) are significant to Financing Decision.The influence of Plowback Ratio (PR) and Return On Fixed Asset are significant to Dividend Decision.The influence of Economic Value Added (EVA) and Market Value Added (MVA) are significant to Free cash flow.The influence of Price Earning Ratio (PER), Dividend Yield (DY), and Capital Gain Yield (Cap.G) are significant to Stock Return.The results of this research are significant influence to external factors, internal financial decision, free cash flow, and stock return; but inventory and receivable intensiveness, dividend yield are not significantly.

<p><strong>ABSTRACT</strong></p><p><br />As one of the financial instruments, the Bank plays a very important role, because the supervision of banking activities is increasingly being improved. However, with the current monetary crisis in Indonesia and the continuing turmoil of the political situation, it has brought the Indonesian banking industry into a really difficult situation. Considering the condition of this National Bank, the government decided to liquidate private banks with low performance. In the framework of national banking restructuring, the government also proposed to merge some national private banks and state-owned banks. This merger step has a strategic goal, namely to form a larger merged bank, strengthening the capital structure, has a comparative advantage as well as a stronger competitiveness in this globalization. The purpose of this study is to know the effect of merger on the level of profitability at Bank Danamon. The type of research used in this study is descriptive research while for data collection authors use secondary data. The population of this study include 9 Bank Take Over and samples taken as many as two banks, using purposive sampling technique. The analytical model used is, the analysis using the financial ratios of Gross Profit Margin, Net Profit Margin, Return On Investment, and return On eqiuty and Test T. The results show that: (1) Bank Danamon Tbk is a merged bank between Bank Danamon With Bank Take Over (Tiara Asia Bank, Risjad Salim Bank, Duta Bank, Tamara Bank, Bank Nusa Nasional, Rama Bank, Bank Jaya and Bank Pos Nusantara). (2) The implementation of the merger has a positive impact on the level of profitability at Bank Danamon. (3) There is a significant difference between profitability before and after merger, it can be seen from result of t test which show that tcount (4,039) is bigger than ttable (3,182).</p><p><br /><strong>Keywords: Merger, Profitability</strong></p>

Introduction: Until the end of 2021, the legal issue having been an actual trending topic and hot issue which attracts the attention of scholars and researchers, is the phenomenon of the emergence of criminal acts of corruption committed in congregation by the management of the Village Credit Institution in Bali. Generally, the resolution of these cases is carried out in a traditional manner with the spirit of local wisdom and kinship through the Paruman Krama of Traditional Villages to attain an agreement or consensus. The prosecutor’s office, however, enters into this customary realm, then participates in conducting preliminary investigations and investigations. The involvement of prosecutor is only on the basis of a document issued in 1988 regarding the Bali Governor’s Assistance amounting to two million rupiah as the initial capital for the establishment of the Village Credit Institution. Purposes of the Research: The present study aims at identifying whether or not the results of the regency inspectorate’s audit can be used as a basis for prosecuting suspects in the cases of abuse of Village Credit Institution finance as well as alternative solutions that necessarily need to be taken to resolve the cases. Methods of the Research: The first problem is examined using the Theory of Penalty and the second one is examined using the Theory of the Welfare State Law. The research method used is a mixed legal research method. Data are presented using a systematic description technique. Results of the Research: The solution that is expected is this study sheds light on whether or not the results of the regency inspectorate’s audit can be used as a basis for prosecuting suspects in cases of abuse of the Village Credit Institution finance, what factors are the causes of the liquidity crisis and wether the present study results can be applied as an alternative solution that should be taken in resolving cases at the regency level. The target to be achieved in the research is publication on the electronic media Bali TV in the regional seminar on “Menghitung Kerugian Negara dalam Kasus Korupsi Pada Lembaga Perkreditan Desa di Bali”. The expected output from the study is the results will be published in the Sinta I indexed journal.

ABSTRACT: The Covid-19 pandemic that has occurred in the world has harmed economies since 2020, especially Indonesia. Therefore, it is very important to study the impact of this pandemic on the stability of Islamic banking in Indonesia and examine potential signs of post-pandemic recovery. This study examines the stability of Islamic banking in Indonesia. Stability is measured using ROA and Z-score. The data in this study are panel data for Islamic Commercial Banks (BUS) and Islamic Business Units (UUS). The data used is quarterly data for 2016-2020. This study uses the Generalized Method of Moment (GMM). The results of this study are ROA for Assets, CAR, FDR, and Covid-19 do not affect profits. However, NPF and BOPO have a negative effect. Whereas on the Z-score for Assets, CAR FDR has a positive effect. NPF and BOPO harm the stability of Islamic banking, except for Covid-19. Lower efficiency and problematic financing reduce the stability of Islamic banking. In addition, the results of our analysis, based on profitability and financial stability during the quarterly period, Islamic banking was able to survive during the Covid-19 pandemic. This research implies that even though some variables do not significantly affect profits, Islamic banks must still pay attention to other variables, such as ROA, owned assets, CAR, FDR, and Covid-19 which are likely to have a large negative impact on the long term. Apart from that, Islamic banks must also maintain profits and stability to survive and compete with conventional banking amid the Covid-19 pandemic. Keywords: Generalized Method of Moment, Islamic Bank, Banking Stability, Return on Assets, Z Score ABSTRAK: Pandemi Covid-19 yang terjadi di dunia memberikan dampak negatif bagi perekonomian sejak tahun 2020, khususnya Indonesia. Oleh karena itu, sangat penting untuk mengkaji dampak pandemi terhadap stabilitas perbankan syariah di Indonesia dan mengkaji potensi pemulihan pasca pandemi. Penelitian ini mengkaji tentang stabilitas perbankan syariah di Indonesia. Stabilitas diukur menggunakan ROA dan Z-score. Data dalam penelitian ini adalah data panel untuk Bank Umum Syariah (BUS) dan Unit Usaha Syariah (UUS). Data yang digunakan adalah data triwulanan tahun 2016-2020. Penelitian ini menggunakan Generalized Method of Moment (GMM). Hasil penelitian ini adalah ROA untuk Aset, CAR, FDR, dan Covid-19 tidak berpengaruh terhadap keuntungan perbankan syariah. Namun NPF dan BOPO berpengaruh negatif. Sedangkan pada Z-score untuk Aset, CAR FDR berpengaruh positif. NPF dan BOPO berpengaruh negatif terhadap stabilitas perbankan syariah, kecuali Covid-19. Efisiensi yang lebih rendah dan pembiayaan bermasalah mengurangi stabilitas perbankan syariah. Selain itu, hasil analisis, berdasarkan profitabilitas dan stabilitas keuangan selama periode triwulanan, perbankan syariah mampu bertahan selama pandemi. Hasilnya menunjukkan implikasi bahwa meskipun beberapa variabel tidak berpengaruh signifikan terhadap keuntungan, namun Bank Syariah harus tetap memperhatikan variabel lain, seperti ROA, Aset yang dimiliki, CAR, FDR, dan Covid-19 yang kemungkinan akan terjadi dampak negatif yang besar dalam jangka panjang. Selain itu, Bank Syariah juga harus mampu menjaga keuntungan dan stabilitas agar mampu bertahan dan bersaing dengan perbankan konvensional di tengah pandemi. Kata Kunci: Generalized Method of Moment, Perbankan Islam, Stabilitas Keuangan, Return on Assets, Z Score REFERENCES Abbas, F., Iqbal, S., & Aziz, B. (2019). The impact of bank capital, bank liquidity and credit risk on profitability in postcrisis period:‎ A comparative study of US and Asia. Cogent Economics and Finance, 7(1).doi:10.1080/23322039.2019.1605683 Aliyu, S., & Yusof, R. M. (2016). International journal of economics and financial issues profitability and cost efficiency of islamic banks: a panel analysis of some selected countries. International Journal of Economics and Financial Issues, 6(4), 1736–1743. Alqahtani, F., & Mayes, D. G. (2018). Financial stability of islamic banking and the global financial crisis: Evidence from the Gulf Cooperation Council. Economic Systems, 42(2), 346–360.doi:10.1016/j.ecosys.2017.09.001 Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte carlo evidence and an application to employment equations. Review of Economic Studies, 58(2), 277–297.doi:10.2307/2297968 Barzani, K. F. (2020). Profitability and risk in Indonesian islamic banking: A dynamic panel data analysis [Universitas Islam Indonesia]. Retrieved from https://dspace.uii.ac.id/123456789/30611 Ben Mimoun, M. (2019). Islamic banking and real performances in a dual banking system: Evidence from Saudi Arabia. International Journal of Islamic and Middle Eastern Finance and Management, 12(3), 426–447.doi:10.1108/IMEFM-07-2018-0223 Berger, A. N., Boubakri, N., Guedhami, O., & Li, X. (2019). Liquidity creation performance and financial stability consequences of Islamic banking: Evidence from a multinational study. Journal of Financial Stability, 44, 100692.doi:10.1016/j.jfs.2019.100692 Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143.doi:10.1016/S0304-4076(98)00009-8 Elnahass, M., Trinh, V. Q., & Li, T. (2021). Global banking stability in the shadow of Covid-19 outbreak. Journal of International Financial Markets, Institutions and Money, 72, 101322.doi:10.1016/j.intfin.2021.101322 Eng, T. S. (2013). Pengaruh NIM, BOPO, LDR, NPL, dan CAR terhadap ROA bank internasional dan bank nasional go public periode 2007 – 2011. Jurnal Dinamika Manajemen, 1(3), 153–167.doi:10.22437/jdm.v1i3.1473 Fakhruddin, Iwan dan Purwanti, T. (2015). Pengaruh rasio kesehatan bank terhadap kinerja keuangan bank periode 2010-2013. Jurnal Kompartemen, XIII(2), 116–131.doi:10.30595/kompartemen.v13i2.1768 Havidz, S. A. H., & Setiawan, C. (2015). Bank efficiency and non-performing financing (npf) in the indonesian islamic banks. Asian Journal of Economic Modelling, 3(3), 61–79.doi:10.18488/journal.8/2015.3.3/8.3.61.79 Horobet, A., Radulescu, M., Belascu, L., & Dita, S. M. (2021). Determinants of bank profitability in cee countries: Evidence from GMM panel data estimates. Journal of Risk and Financial Management, 14(7), 307.doi:10.3390/jrfm14070307 Ilhami, & Thamrin, H. (2021). Analisis dampak Covid 19 terhadap kinerja keuangan perbankan syariah di Indonesia. Jurnal Tabarru’: Islamic Banking and Finance, 4(1), 37–45.doi:10.25299/jtb.2021.vol4(1).608 Kusumastuti, W. I., & Alam, A. (2019). Analysis of impact of CAR, NPF, BOPO on profitability of Islamic banks (year 2015-2017). Journal of Islamic Economic Laws, 2(1), 30–59.doi:10.23917/jisel.v2i1.6370 Lubis, K. A. (2013). Penerapan generalized method of moments pada persamaan simultan panel dinamis untuk pemodelan pertumbuhan ekonomi di Indonesia. Unpublished thesis. Institute Teknologi Sepuluh November. Thamrin, Liviawati, & Rita Wiyati. (2011). Analisis perbandingan kinerja keuangan bank umum sayriah dan bank umum konvensional serta pengaruhnya terhadap keputusan investasi. Pekbis Jurnal, 3(1), 406–412.doi:10.31258/pekbis.3.01.%p Maritsa, F. H. N., & Widarjono, A. (2021). Indonesian islamic banks and financial stability: An empirical analysis. Jurnal Ekonomi Dan Bisnis, 5(1), 71–87.doi:10.14421/EkBis.2021.5.1.1279 Pravasanti, Y. A. (2018). Pengaruh NPF dan FDR terhadap CAR dan dampaknya terhadap ROA pada perbankan syariah di Indonesia. Jurnal Ilmiah Ekonomi Islam, 4(03), 148-159.doi:10.29040/jiei.v4i03.302 Primadita, N. (2020). Analisis pengaruh murabahah, mudharabah, musyarakah, FDR, NPF dan BOPO terhadap kinerja perbankan syariah tahun 2011-2020. Syi’ar Iqtishadi: Journal of Islamic Economics, Finance and Banking. 4(2), 36-58. doi:10.35448/jiec.v4i2.9843 Raouf, H., & Ahmed, H. (2021). Risk governance and financial stability: A comparative study of conventional and islamic banks in the GCC. Global Finance Journal,52, 100599.doi:10.1016/j.gfj.2020.100599 Rashid, A., & Jabeen, S. (2016). Analyzing performance determinants: Conventional versus islamic banks in Pakistan. Borsa Istanbul Review, 16(2), 92–107.doi:10.1016/j.bir.2016.03.002 Rizvi, S. A. R., Narayan, P. K., Sakti, A., & Syarifuddin, F. (2020). Role of islamic banks in Indonesian banking industry: An empirical exploration. Pacific Basin Finance Journal, 62.doi:10.1016/j.pacfin.2019.02.002 Salike, N., & Ao, B. (2018). Determinants of bank’s profitability: Role of poor asset quality in Asia. China Finance Review International, 8(2), 216–231.doi:10.1108/CFRI-10-2016-0118 Suryani. (2012). Analisis pengaruh financing to deposit ratio (FDR) terhadap profitabilitas perbankan syariah di Indonesia (rasio keuangan pada BUS dan UUS Periode 2008-2010). Economica: Jurnal Ekonomi Islam, 2(2), 153–170.doi:10.21580/economica.2012.2.2.854 Tahliani, H. (2020). Tantangan perbankan syariah dalam menghadapi pandemi Covid-19. Madani Syari’ah, 3(2), 92–113.doi:10.51476/madanisyari'ah.v3i2.205 Taurif, M., Otok, B. W., & Latra, I. N. (2014). Estimation of generalized method of moment in logistic regression model. Proceeding of Seminar Nasional Matematika, Universitas Jember:19 November. Page 167–174. Widarjono, A. (2020). Stability of islamic banks in Indonesia: Autoregressive distributed lag approach. Jurnal Keuangan dan Perbankan, 24(1), 40–52.doi:10.26905/jkdp.v24i1.3932 Widarjono, A., Mifrahi, M. N., & Perdana, A. R. A. (2020). Determinants of Indonesian islamic rural banks’ profitability: Collusive or non-collusive behavior?. Journal of Asian Finance, Economics and Business, 7(11), 657–668.doi:10.13106/jafeb.2020.vol7.no11.657 Youssef, A. H., El-Sheikh, A. A., & Abonazel, M. R. (2014). Improving the efficiency of GMM estimators for dynamic panel models. Far East Journal of Theoretical Statistics ,47(2),171-189. Zarrouk, H., Ben Jedidia, K., & Moualhi, M. (2016). Is islamic bank profitability driven by same forces as conventional banks?. International Journal of Islamic and Middle Eastern Finance and Management, 9(1), 46–66.doi:10.1108/IMEFM-12-2014-0120

This research looks at the effect of internal factors or microeconomics and external factors or macroeconomic factors on profitability of textiles and textiles products companies. The result showed that partially, only current ratio and the interest rates which have significant impact on ROA. simultanously, internal and external factors have significant impact on ROA. Managerial implication based on this research are, the companies should apply liquidity risk management like mitigation on liquidity crisis and liquidity risk bearing analysis also look for another fund resources to decrease interest rates expenses.

Capital structure is one of the most important things that every company should concern about. As alongwith economic issues that recently happened in this past years, such as crisis, inflation, etc, this study aims to find out about the factors that affect the capital structure in the food and beverage sectors listed in the Indonesia Stock Exchange (BEI) in the year of 2008-2015. The data sample of 8 companies is collected by using financial statements from each company that issued by Indonesia Stock Exchange.. This study use multiple regression with Ordinary Least Square (OLS) method to examine the effect of profitability (return on asset), firm size, asset growth and liquidity on the capital structure (debt-to-equity ratio). The conclusion of this study indicate that profitability, firm size, asset growth and liquidity affect the capital structure simultaneously, meanwhile partially, profitability affect the capital structure while firm size, asset growth and liquidity not affect the capital structure.

This paper reviews the inter-linkage between banking stability and monetary policy, with a reference to the Indonesian case since the 1997 crisis. In particular, it shows how monetary transmission mechanism would be inhibited and thus monetary policy would not be effective when the banking system is not sound and stable, such as during a crisis period. Conversely, the stance and response of monetary policy would have significant impacts on banking stability as inflation, exchange rate, and interest rate constitute major market risks to banking operations. For Indonesia, a close inter-linkage between banking instability and monetary policy ineffectiveness has been vividly evidenced during the crisis period of 1997 – 1999. Subsequently, however, with progress of the banking restructuring programs that Indonesia authorities have undertaken, the banking conditions have imporved considerably since 2000. As banking intermediation improved, not only has financing to economic growth increased but also monetary transmission mechanisms strengthened considerably. Nonetheless, excess liquidity that banking system is still experiencing, especially because of lack of feasible investment outlests in the real sector and high perceived credit risks from the bankers, poses serious challenges to the central bank for better coordination and striking the optimal balance between maintaining monetary and banking stability while continue to promoting economic growth.Keyword: banking stability, monetary policy, IndonesiaJEL : G21, E52, N25

It is a fact that the UMKM’s are resistant due to monetary crisis in Indonesia. It proves UMKM’s significant and important roles of the economic development in establishing employment, improving National Gross Domestic Product and developing national industries. Because of these potentials of UMKM’s, banks should provide assistantships by providing their loan as financial aids. It is however, influenced by some factors such as internal and external factors. The aim of this research was to analyze the influence of internal factors which refers to internal bank condition such as third party funds (DPK), capitals, profitability, risk and liquidity toward UMKM’s at syaria banking in Indonesia. The data of the study were taken from general syaria bank (BUS) and syaria business unit (UUS) which were provided in the syaria banking statistic from Indonesian central bank (official website of BI) from 2008 up to Juni 2013. Due to the limited data provided in syaria banking statistic, the 2008 and 2009 data were three-monthly: March, June, September and December while the 2010 to Juni 2013 data were monthly. Thus, there were 50 time series of observation. The data were analyzed by using regression provided in 17.0 ver. SPSS. The result of regression test shows that internal factors which significantly influenced UMKM’s finance at syaria banking were the DPK and liquidity, whereas the other factors such as the capital, profit and risk had no significance on the financing UMKM’s.

ABSTRACT Since the implementation of Banking Regulation Number 10 year 1998, Indonesia has two banking systems that must be maintained and controlled, is conventional banking and Islamic banking. Indonesia as a developing country is very vulnerable to economic turmoil related to macroeconomic factors. The problematic crisis experienced by Indonesia in 1998 has been a proof of the weakness of the resilience of the banking system in Indonesia, especially in conventional banking. The condition of syariah banking in Indonesia which majority originated from the Islamic bank window has the potential to have a high degree of vulnerability during a crisis. Let's say in the management of liquidity management is still dependent on the parent company, namely conventional banking. If conventional banking is experiencing financial difficulties due to unfavorable macroeconomic conditions, then the management of subsidiaries' liquidity also has the possibility to be disturbed. Based on the results of data analysis that has been described previously shows that macroeconomic factors such as the interest rate of Bank Indonesia, inflation rate and GDP growth have a significant influence on the performance of banks both measured by the level of profit and risk. This shows that the banking industry in Indonesia should pay great attention to the dynamics of macroeconomic factors that are happening. This should be done by the bank to be able to respond appropriately to the macroeconomic conditions that are and will happen to the fore.Keywords : Macroeconomics, Dual Banking System, Panel Data EstimationCorrespondence to : jannatul.mustain@ep.uad.ac.id, fakhrunnasfaaza@gmail.com ABSTRAK Sejak diterapkannya Undang-Undang No.10 Tahun 1998, Indonesia memiliki dua sistem perbankan yang harus dijaga dan dikendalikan yakni perbankan konvensional serta perbankan syariah. Indonesia sebagai negara berkembang sangat rentan terhadap gejolak ekonomi terkait faktor makroekonomi. Problematika krisis yang dialami oleh Indonesia ditahun 1998 menjadi bukti terkait lemahnya daya tahan sistem perbankan di Indonesia, terutama pada perbankan konvensional. Kondisi perbankan syariah di Indonesia yang mayoritas berawal dari islamic bank window berpotensi untuk memiliki tingkat kerentanan yang tinggi ketika terjadi krisis. Misalkan saja dalam pengelolaan manajemen likuiditas yang masih bergantung kepada perusahan induk, yakni perbankan konvensional. Jika perbankan konvensional sedang mengalami kesulitan keuangan karena kondisi makro ekonomi yang kurang baik, maka manajemen likuditas anak perusahaan pun memiliki kemungkinan untuk terganggu. Berdasarkan hasil analisa data yang telah dijelaskan sebelumnya menunjukan bahwa faktor makro ekonomi seperti tingkat suku bunga Bank Indonesia, tingkat inflasi dan pertumbuhan GDP memiliki pengaruh yang signifikan terhadap kinerja perbankan baik diukur dengan tingkat keuntungan maupun resiko. Hal ini menunjukan bahwa industri perbankan di Indonesia harus memberikan perhatian yang besar terhadap dinamika faktor makro ekonomi yang sedang terjadi. Hal tersebut harus dilakukan oleh bank untuk dapat memberikan respon secara tepat terhadap kondisi ekonomi makro yang sedang dan akan terjadi kedepan.Kata Kunci : Makro Ekonomi, Sistem Perbankan Ganda, Estimasi Data PanelKorespondensi : jannatul.mustain@ep.uad.ac.id, fakhrunnasfaaza@gmail.com

ABSTRACT The importance of financial management as a vital aspect of the company should be considered and managed properly if the company remains to maintain the sustainable business. Development of an early warning system model is needed to anticipate the financial distress, because this model can identify and improve the condition prior to the crisis. This research aims to examine the liquidity (CR, QR), profitability (ROI, ROE), leverage (DER, DAR), the effect of financial distress. The sample used in this research is the company's transportation, infrastructure and utilities sector in Indonesia Stock Exchange (BEI) for the period year 2012-2016. This research uses purposive sampling, which obtained 171 samples of observations from 39 companies. The hypothesis is examined by using regression logistic. The result shows that the ratio of ROI havesignificant effect on the company’s financial distress. While the CR, QR, ROE DER and DAR have no effect on the company’s financial distress. ABSTRAK Pentingnya pengelolaan keuangan sebagai aspek vital perusahaan benar-benar harus diperhatikan dan dikelola dengan baik jika perusahaan tetap untuk dapat menjaga kelangsungan hidup usahanya. Diperlukan pengembangan model sistem peringatan untuk mengantisipasi adanya financial distress, karena model ini dapat digunakan sebagai sarana untuk mengidentifikasikan bahkan untuk memperbaiki kondisi sebelum sampai pada kondisi krisis. Studi ini bertujuan untuk meneliti pengaruh likuiditas (CR, QR), profitabilitas (ROI, ROE), leverage (DER, DAR), terhadap prediksi financial distress pada perusahaan sektor transportasi, infrastruktur dan utilities yang terdaftar di Bursa Efek Indonesia periode tahun 2012-2016. Pengambilan sampel dengan menggunakan purposive sampling dan diperoleh sebanyak 171 sampel observasi dari 39 perusahaan. Pengujian hipotesis dilakukan dengan menggunakan regression logistik. Hasil pengujian hipotesis mununjukkan bahwa variabel ROI berpengaruh signifikan terhadap financial distress perusahaan. Sedangkan variabel CR, QR, ROE, DER dan DAR tidak berpengaruh terhadap financial distress perusahaan. JEL Classification: M40, G18

ABSTRACT The importance of financial management as a vital aspect of the company should be considered and managed properly if the company remains to maintain the sustainable business. Development of an early warning system model is needed to anticipate the financial distress, because this model can identify and improve the condition prior to the crisis. This research aims to examine the liquidity (CR, QR), profitability (ROI, ROE), leverage (DER, DAR), the effect of financial distress. The sample used in this research is the company's transportation, infrastructure and utilities sector in Indonesia Stock Exchange (BEI) for the period year 2012-2016. This research uses purposive sampling, which obtained 171 samples of observations from 39 companies. The hypothesis is examined by using regression logistic. The result shows that the ratio of ROI havesignificant effect on the company’s financial distress. While the CR, QR, ROE DER and DAR have no effect on the company’s financial distress. ABSTRAK Pentingnya pengelolaan keuangan sebagai aspek vital perusahaan benar-benar harus diperhatikan dan dikelola dengan baik jika perusahaan tetap untuk dapat menjaga kelangsungan hidup usahanya. Diperlukan pengembangan model sistem peringatan untuk mengantisipasi adanya financial distress, karena model ini dapat digunakan sebagai sarana untuk mengidentifikasikan bahkan untuk memperbaiki kondisi sebelum sampai pada kondisi krisis. Studi ini bertujuan untuk meneliti pengaruh likuiditas (CR, QR), profitabilitas (ROI, ROE), leverage (DER, DAR), terhadap prediksi financial distress pada perusahaan sektor transportasi, infrastruktur dan utilities yang terdaftar di Bursa Efek Indonesia periode tahun 2012-2016. Pengambilan sampel dengan menggunakan purposive sampling dan diperoleh sebanyak 171 sampel observasi dari 39 perusahaan. Pengujian hipotesis dilakukan dengan menggunakan regression logistik. Hasil pengujian hipotesis mununjukkan bahwa variabel ROI berpengaruh signifikan terhadap financial distress perusahaan. Sedangkan variabel CR, QR, ROE, DER dan DAR tidak berpengaruh terhadap financial distress perusahaan.